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<br />~H~H J i"(/O~
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<br />200710309
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<br />month in advance of the due date. Lender may also require Grantor, tenant and any other user of the Property to
<br />make payments of Rents directly to Lender. However, by receiving any such payments, Lender is not, and shall not
<br />be considered, an agent for any party or entity. Any amounts collected may, at the Lender's sole discretion, be
<br />applied to protect the Lender's interest in the Property, including but not limited to the payment of taxes and
<br />insurance premiums and to the Indebtedness. At Lender's sole discretion, all leases, subleases and licenses must
<br />first be approved by Lender. '
<br />
<br />CONDEMNATION. Grantor shall give Lender notice of any action taken or threatened to be taken by private or
<br />public entities to appropriate the Property or any part thereof, through condemnation, eminent domain or any other
<br />action. Further, Lender shall be permitted to participate or intervene in any of the above described proceedings in
<br />any manner it shall at its sole discretion determine. Lender is hereby given full power, right and authority to
<br />receive and receipt for any and all damages awarded as a result of the full or partial taking or appropriation and in
<br />its sole discretion, to apply said awards to the Indebtedness, whether or not then due or otherwise in accordance
<br />with applicable law. Unless Lender otherwise agrees in writing, any application of proceeds to the Indebtedness
<br />shall not extend or postpone the due date of the payments due under the Indebtedness or c)1ange the amount of
<br />such payments.
<br />
<br />GRANTOR'S ASSURANCES. At any time, upon a request of Lender, Grantor will execute and deliver to the
<br />Lender, and if appropriate, cause to be recorded, such further mortgages, assignments, assignments of leases and
<br />rents, security agreements, pledges, financing statements, or such other document as Lender may require, in
<br />Lender's sole discretion, to effectuate, complete and to perfect as well as to continue to preserve the Indebtedness,
<br />or the lien or security interest created by this Security Instrument.
<br />
<br />ATTORNEY-IN~FACT. Grantor appoints Lender as attorney-in-fact on behalf of Grantor. If Grantor fails to
<br />fulfIll any of Grantor's obligations under this Security Instrument or any Related Documents, including those
<br />obligations mentioned in the preceding paragraph, Lender as attorney-in-fact may fulfill the obligations without
<br />notice to Grantor. This power of attorney shall not be affected by the disability of the Grantor.
<br />
<br />EVENTS OF DEFAULT. The following events shall constitute default under this Security Instrument (each an
<br />"Event of Default"):
<br />
<br />(a) Failure to make required payments when dlJe under Indebtedness;
<br />(b) Failure to perform or keep any of the covenants of this Security Instrument or a default under any of
<br />the Related Documents;
<br />(c) The making of any oral or written statement or assertion to the Lender that is false or misleading in any
<br />material respect by Grantor or any person obligated on the Indebtedness;
<br />(d) The death, dissolution, insolvency, bankruptcy or receivership proceeding of Grantor or of any person
<br />or entity obligated on the Indebtedness;
<br />(e) Any assignment by the Grantor for the benefit of the Grantor's creditors;
<br />(t) A material adverse change occurs in the financial condition, ownership or management of Grantor or
<br />any person obligated on the Indebtedness; or
<br />(g) The Lender deems itself insecure for any reason whatsoever.
<br />
<br />REMEDIES ON DEFAULT. Upon the occurrence of an Event of Default, Lender may, without demand or
<br />notice, pay any or all taxes, assessments, premiums, and liens required to be paid by Grantor, effect any insurance
<br />provided for herein, make such repairs, cause the abstracts of title or title insurance policy and tax histories of the
<br />Property to be certified to date, or procure new abstracts of title or title insurance and tax histories in case none
<br />were furnished to it, and procure title reports covering the Property, including surveys. The amounts paid for any
<br />such purposes will be added to the Indebtedness and will bear interest at the rate of interest otherwise accruing on
<br />the Indebtedness until paid. In the event of foreclosure, the abstracts of title or title insurance shall become the
<br />property of the Lender. All abstracts of title, title insurance, tax histories, surveys, and other documents pertaining
<br />to the Indebtedness will remain in Lender's possession until the Indebtedness is paid in full.
<br />
<br />IN THE EVENT OF THE SALE OF THIS PROPERTY UNDER THE PROCEDURE FOR FORECLOSURE OF
<br />A SECURITY INSTRUMENT BY ADVERTISEMENT, AS PROVIDED BY APPLICABLE LAW, OR IN THE
<br />EVENT THE LENDER EXERCISES ITS RIGHTS UNDER THE ASSIGNMENT OF LEASES AND RENTS,
<br />THE GRANTOR HEREBY WAIVES ANY RIGHT TO ANY NOTICE OTHER THAN THAT PROVIDED
<br />FOR SPECIFICALLY BY STATUTE, OR TO ANY JUDICIAL HEARING PRIOR TO SUCH SALE OR
<br />OTHER EXERCISE OF RIGHTS.
<br />
<br />Upon the occurrence of an Event of Default, Lender may, without notice unless required by law, and at its option,
<br />declare the entire Indebtedness due and payable, as it may elect, regardless of the date or dates of maturity thereof
<br />and, if permitted by state law, is authorized and empowered to sell or to cause the Property to be sold at public
<br />auction, and to execute and deliver to the purchaser or purchasers at such sale any deeds of conveyance good and
<br />sufficient at law, pursuant to the statute in such case made and provided, and out of the proceeds of the sale to
<br />retain the sums then due hereunder and all costs and charges of the sale, including attorneys' fees, rendering any
<br />surplus to the party or parties entitled to it. The recitals in the trustee's deed shall be prima facie evidence of the
<br />truth of the statements made in it. If Lender chooses to invoke the power of sale, Lender or Trustee will provide
<br />notice of sale pursuant to applicable law. Any such sale or a sale made pursuant to a judgment or a decree for the
<br />foreclosure hereof may, at the option of Lender, be made en masse. The conunencement of proceedings to
<br />foreclose this Mortgage in any manner authorized by I~w shall be deemed as exercise of the above option.
<br />
<br />(> 2004-2006 Copy,ight Compliance System,. Inc. 340A.8824 . 2006.11.182
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<br />C' Real Estate S~~~ In":m~t~022~
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